Cooperative and Free market

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Difference between Cooperative and Free market

Cooperative vs. Free market

A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise". In economics, a free market is an idealized system in which the prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority.

Business

Business is the activity of making one's living or making money by producing or buying and selling products (goods and services).

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Corporation

A corporation is a company or group of people or an organisation authorized to act as a single entity (legally a person) and recognized as such in law.

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Employee stock ownership plan

An employee stock ownership plan (ESOP) is an employee-owner program that provides a company's workforce with an ownership interest in the company.

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Financial services

Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers and some government-sponsored enterprises.

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Market socialism

Market socialism is a type of economic system involving the public, cooperative or social ownership of the means of production in the framework of a market economy.

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Mutualism (economic theory)

Mutualism is an economic theory and anarchist school of thought that advocates a society with free markets and occupation and use property norms.

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Neoliberalism

Neoliberalism or neo-liberalism refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism.

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Participatory economics

Participatory economics, often abbreviated parecon, is an economic system based on participatory decision making as the primary economic mechanism for allocation in society.

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Social equality

Social equality is a state of affairs in which all people within a specific society or isolated group have the same status in certain respects, including civil rights, freedom of speech, property rights and equal access to certain social goods and services.

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Socialism

Socialism is a range of economic and social systems characterised by social ownership and democratic control of the means of production as well as the political theories and movements associated with them.

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Trade union

A trade union or trades union, also called a labour union (Canada) or labor union (US), is an organization of workers who have come together to achieve many common goals; such as protecting the integrity of its trade, improving safety standards, and attaining better wages, benefits (such as vacation, health care, and retirement), and working conditions through the increased bargaining power wielded by the creation of a monopoly of the workers.

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Welfare

Welfare is a government support for the citizens and residents of society.

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Worker cooperative

A worker cooperative, is a cooperative that is owned and self-managed by its workers.

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